The implementation of Industry 4.0 technology and meeting the expectations of employers, the labour market, and, in fact, sustainable development are new challenges for industry employees, especially for their knowledge and skills. The changes introduced during industrial revolutions have always affected the job market and employees’ required competencies. The same can be said for the latest industrial revolution, Industry 4.0, in which the human factor plays an important role, mainly because new challenges are posed by human beings’ role in digitised reality. Our research aimed to identify the employee competencies that are required in the context of Industry 4.0. We investigated two groups of respondents (employees and students). These groups were subjected to a comparative analysis of their digital, technical, social and personal competencies. As a result of the analysis, we identified the highest-ranked competencies in defined groups. Our results show that technical and soft skills are equally important in this highly technically based industrial revolution.